Due to the growing complexity in society and in the financial sector, and due to the fact that the development goes towards a major overlap between professions, banks are to a large extent involved in issues relating to investment counseling (MiFID), leasing issues, finance, tender of different investment projects.
During recent years a growing number of banks have signed professional indemnity insurance policies due to these risks, just as the banks insure themselves against risk for losses due to fraudulent acts committed against the banks by third parties, but also against losses due to criminal behaviour committed by the banks’ employees. Furthermore the banks often sign policies regarding management liability (Bankers Blanket Bond, BBB).
Bergenser Law Firm has during several years advised on most of the different types of liability situations that may arise relating to the professional liability of the business conducted by banks. Bergenser Law Firm has represented banks and insurance companies at the ordinary courts as well as arbitration venues regarding complex matters with regard to both extent and amounts involved (e.g. the Scandinotes/Kalvebod Brygge-complex, financial products including interest and currency swaps, large leasing arrangements a.o.)
Furthermore Bergenser Law Firm has significant experience within the area of crime insurance for banks. We have insight in the delicate information involved in these matters, both in relation to the banks’ own affairs, as well as the affairs of the external individuals involved in the often significant cases involving fraud in banks.
Bergenser Law Firm also advises banks in issues not relating to the insurance issues including loans, collateral, annulment, management liability in relation to affairs with the bank, but also in issues relating to the banks involvement with the Danish FSA regarding regulatory work relating to the Financial Business Act and related regulation including orders and guides etc.
Bergenser Law Firm has extensive experience in counseling and representing banks’ issues in front of The Danish Complaint Board of Banking Services and The Business Appeals Board.